Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 1 - 10 of 29 results for "Fee for no service"

CBA adds $32m to advice remediation bill

KARREN VERGARA  |  WEDNESDAY, 12 MAY 2021
... for further increases to the indemnity limit remains under certain triggers relating to the failure rate for fee for no service remediation and the quantum of certain inappropriate advice remediation," the two firms said in a joint statement. "Remediation ...

Remediation services profiting from Royal Commission failures

ELIZABETH MCARTHUR  |  THURSDAY, 11 MAR 2021
Services are popping up to assist consumers in getting refunds for fee for no service financial advice, junk insurance and other misconduct exposed by the Royal Commission - but they are doing it for a fee. Remediator is one such service, launching ...

Banks return $1.2bn for bad advice

ELIZA BAVIN  |  FRIDAY, 12 FEB 2021
... financial advisers to identify and deal with non-compliant advice. NAB leads the ranks in compensation for fee for no service misconduct paying, or offering, $437.5 million to over 636,000 customers. This is followed by Westpac on close to $200 million ...

Fiducian looks to gain from change

ELIZA BAVIN  |  THURSDAY, 12 NOV 2020
... grandfathered commissions and management is confident of its tested procedures and controls on ensuring there are no "fee for no service" issues, the group said. In August this year Fiducian doubled its new inflows to $217 million for the full year while ...

Advice remediation tops $1bn

ELIZABETH MCARTHUR  |  MONDAY, 24 AUG 2020
... Bank and Westpac have paid or offered a total of $1.05 billion in compensation to customers as a result of fee for no service, misconduct and non-compliance advice, according to ASIC. ASIC said the $1.05 billion figure had been reached at 30 June 2020. ...

CBA ups remediation bill for advice

ELIZA BAVIN  |  THURSDAY, 30 JUL 2020
... potential for further increases to the indemnity limit remains under certain triggers relating to the failure for fee for no service and inappropriate advice," CountPlus said. "Remediation amounts will not be known until individual cases have neem reviewed ...

Compliance worse than COVID-19

ALLY SELBY  |  THURSDAY, 23 APR 2020
... Code of Ethics, Royal Commission recommendations, ASIC Project 515 and "lookback" projects as a result of the fee for no service issue, he said. "Some of these reforms or projects have impacted the complexity and the effort required as part of the preparation ...

AMP contests senior lawyer's claims

KANIKA SOOD  |  TUESDAY, 29 OCT 2019
... progression. In its 25-page defence filed in the court yesterday morning, AMP contests many of Cook's claims. Fee for no service AMP claims Cook was "only one of a number of employees" involved in the process that led to fee-for-no-service information ...

Senior lawyer drags AMP to court

KANIKA SOOD  |  THURSDAY, 24 OCT 2019
... Salter and/or Regan would have informed the group executive of people and culture Fiona Wardlaw. By making the fee for no service complaints, she was exercising her workplace right to make a complaint or inquiry, and was following the code of conduct ...

Fee for no service on APRA and ASIC radar

KARREN VERGARA  |  WEDNESDAY, 10 APR 2019
... warning superannuation funds and financial advisers that they will take a tougher approach to ensuring the fee for no service debacle is not repeated. The regulators are taking a more stringent stance on financial advice fees charged without the provision ...
PAGE:
1
PREVIOUS
NEXT